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TORM A/S Q2 2010 Results

Fleet developments

In the second quarter, TORM took delivery of two MR newbuildings, TORM Alice and TORM Alexandra. At the end of the quarter, TORM's fleet of owned vessels comprised 66 tankers and two bulk carriers. In addition to these, TORM had 25 tankers and 11 bulk carriers on time charter. Another 37 tankers were either in pools or under commercial management.

 
   Owned vessels
  31 Mar 10 Addition Disposal 30 Jun 10
LR2 / Aframax 12.5 -- -- 12.5
LR1 / Panamax 7.5 -- -- 7.5
MR 33.0 2.0 -- 35.0
SR 11.0 -- -- 11.0
Product tankers 64.0 2.0 -- 66.0
Panamax dry bulk 2.0 -- -- 2.0
Total 66.0 -- -- 68.0

Planned fleet changes

No vessels were contracted in the second quarter of 2010, and at the end of the quarter the order book thus comprised nine MR vessels and four Kamsarmax vessels. Capex relating to the order book amounted to USD 372 million.

   
  New buildings to be delivered
  2010 2011 2012 2013  
  Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Total
LR2 / Aframax -- -- -- -- -- -- -- -- -- -- -- --
LR1 / Panamax -- -- -- -- -- -- -- -- -- -- -- --
MR 3,0 -- 2,0 -- 1,0 1,0 -- 1,0 1,0 -- -- 9,0
SR -- -- -- -- -- -- -- -- -- -- -- --
Tank 3,0 -- 2,0 -- 1,0 1,0 -- 1,0 1,0 -- -- 9,0
Kamsarmax dry bulk -- -- 2,0 -- -- -- -- -- -- 1,0 1,0 4,0
I alt 3,0 -- 4,0 -- 1,0 1,0 0,0 1,0 1,0 1,0 1,0 13,0

In July 2010, TORM took delivery of the MR vessel TORM Aslaug from the Chinese shipyard GSI Guangzhou.

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